Avangrid, Inc.

NYSE:AGR Rapport sur les actions

Capitalisation boursière : US$13.9b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Avangrid Gestion

Gestion contrôle des critères 2/4

Le PDG Avangrid est Pedro Azagra Blazquez, nommé en May2022, a un mandat de 2.58 ans. La rémunération annuelle totale est $ 10.69M, composée du salaire de 10.8% et des bonus 89.2%, y compris les actions et options de la société. détient directement 0.008% des actions de la société, d'une valeur de $ 1.10M. La durée moyenne de mandat de l'équipe de direction et du conseil d'administration est respectivement 1.5 ans et 7.3 ans.

Informations clés

Pedro Azagra Blazquez

Directeur général

US$10.7m

Rémunération totale

Pourcentage du salaire du PDG10.76%
Durée du mandat du directeur général2.6yrs
Propriété du PDG0.008%
Durée moyenne d'occupation des postes de direction1.5yrs
Durée moyenne du mandat des membres du conseil d'administration7.3yrs

Mises à jour récentes de la gestion

Recent updates

Seeking Alpha • Dec 27

Avangrid: There Are Better Utilities To Buy

Summary Avangrid, an energy services and delivery company, generated $1.92bn in revenues in Q3'23, a 10.73% YoY decline. The company aims for sustainable earnings growth, network growth, and ESG inclusion to remain a stable income pick. Avangrid's stock has underperformed the utility industry and the wider market, and it has the poorest performance among its peers. Read the full article on Seeking Alpha
Seeking Alpha • Oct 11

Avangrid: Dividend Should Be Suspended To Protect Cash

Summary Avangrid's stock has declined over 33% in the past 16+ months due to missed earnings projections and rising US bond yields. The company's dividend yield is currently 5.84%, which may attract long-term investors who see the stock as undervalued. Avangrid's dividend growth rates have been negligible over the past decade, and its dividend payout ratio is not sustainable due to free cash flow deficits. Read the full article on Seeking Alpha
Seeking Alpha • Jul 28

Avangrid Inc.: Expanding Wind Farms In Hopes Of Reaching Growth Targets

Summary Avangrid Inc. has shown strong results in the renewable energy industry, attracting capital and incentives to invest. The company has a solid market position in the offshore wind market and a history of growing its capacities. However, the growth outlook for AGR is slow compared to other companies in the sector, and its valuation is in line with the industry. AGR is considered a hold rather than a buy. Read the full article on Seeking Alpha
Seeking Alpha • Feb 21

Avangrid Non-GAAP EPS of $0.29 misses by $0.11, revenue of $2.16B beats by $350M

Avangrid press release (NYSE:AGR): Q4 Non-GAAP EPS of $0.29 misses by $0.11. Revenue of $2.16B (+11.9% Y/Y) beats by $350M. 2023 Earnings and Adjusted Earnings Outlook of $1.90-$2.10 per share and $2.20-$2.35 per share vs. $2.29 consensus, respectively; reiterating 6-7% EPS and Adjusted EPS Cumulative Annual Growth Rate through 2025 off of the mid-point of 2022 EPS outlook
Seeking Alpha • Oct 06

Avangrid: Risks Outweigh The Reward

Summary Avangrid kicks off its first investor day with new CEO Pedro Azagra at the helm. The mid-term financial targets were revised lower, but could still be vulnerable to downgrades depending on execution. At the current rich valuation, the risk/reward seems unfavorable at these levels. New CEO Pedro Azagra kicked off his tenure at Avangrid (AGR) with an aggressive growth message, although operating challenges still led to the mid-term EPS target range being lowered to 6-7% CAGR through 2025. To be clear, AGR's growth and dividend potential as a regulated utility are compelling over the long run - through increased investments and the partial sale of its onshore renewable ownership stakes, AGR is on track to build out a more stable earnings stream. Yet, execution remains the key overhang to the outlook over the next twelve months. In particular, the outcome of the pending New York/Connecticut/Maine rate cases could drive significant upward (or downward) revisions to the guidance, along with the pending PNM acquisition. At ~12x EBITDA, the valuation is also rich given the rate case risk and execution challenges ahead. Data by YCharts Offshore Wind as the Key Renewables Driver The primary renewables focus for AGR remains wind (offshore and onshore). For onshore wind, the company is adopting a more risk-adjusted approach via a partnership model. In line with this shift, AGR will sell down ~60% of its 2024-2025 onshore projects, with total onshore megawatts growth down to ~650MW through 2025 (vs the prior plan for ~2.3GW of onshore additions). Given the recent Inflation Reduction Act singled out the importance of renewables as a long-term focus, the lower onshore development targets came as a surprise. Expect the earnings growth potential to move lower as a result, although the move does free up equity financing for other projects or transactions. In the meantime, AGR's offshore scale at 2.4GW (under power purchase agreements) remains intact and should support the overall outlook for the renewables segment. Avangrid For now, execution is the key concern - AGR is guiding for further delays to the commercial operation date for Park City/Commonwealth due to the current supply chain challenges and interest rate headwinds. To mitigate the risk, AGR is increasingly de-risking its cash flow by expanding its regulated utility exposure to offset the risk (mainly via investments and sell downs of its onshore/offshore renewable ownership stakes). Still, I would remain cautious on the project risk associated with building out offshore wind farms, particularly given the limited visibility into project returns at this early stage of the industry cycle. Avangrid A Challenging Mid-Term Financial Outlook AGR's EPS CAGR over the 2022-2025 period now stands at 6-7% (down from the prior 6-8%), inclusive of contribution from PNM and New England Clean Energy Connect (NECEC), as well as new onshore renewables partnerships. The outlook also incorporates a $1.9bn equity raise in FY24 (although asset monetization could reduce the final amount) and proceeds from a partial sale of the Kitty Hawk lease. Of these, AGR's pending PNM acquisition is the top growth driver of the base case - even though an outcome is far from certain given AGR is still litigating in the New Mexico courts. At this stage, I don't take a view on the likelihood of a transaction closing, but would note the significant implications of a deal break to the earnings outlook (negative), as well as the balance sheet (positive, as it negates any future equity financing). Avangrid Beyond the PNM deal, following through on the planned renewable asset sales also represents a crucial step to achieving the mid-term target, particularly given the contribution has already been included in adj EPS. The bar is high for AGR's 2022 EPS guidance as well - at the $2.29/share mid-point, AGR is penciling in a sizeable ~$0.46/share of benefit from one-time offshore wind lease area gains. The current 2023 EPS expectations of around $2.20-$2.40/share also incorporates ~$100m of pre-tax contribution from the partial sale of its Kitty Hawk offshore wind lease area (equivalent to (~$0.20 of EPS). In sum, the execution bar is high and any challenges could result in more earnings downgrades ahead. Pending Rate Cases are the Key Near-Term Swing Factor AGR's active New York/Connecticut/Maine rate cases present material upside/downside to estimates, given these multi-year plans (through 2026) entail capital investments and ROEs well in excess of AGR's revised outlook. AGR has also not incorporated the requested capital/rate base increases in its current ~7% rate base growth outlook, so favorable (or unfavorable) outcomes will be worth keeping an eye on. For context, the NY rate case, the most material of the three, calls for a massive multi-year rate plan requiring $8.6bn of investments over the next three years. The capital outlay will need to be weighed against the ongoing impact of elevated commodity prices on customer bills, though, with the challenging backdrop likely weighing on rate activity going forward. In sum, securing multi-year plans without lofty efficiency targets will be a delicate balancing act for AGR's networks segment and thus, increases the execution risk.

Analyse de la rémunération des PDG

Comment la rémunération de Pedro Azagra Blazquez a-t-elle évolué par rapport aux bénéfices de Avangrid?
DateRémunération totaleSalaireBénéfices de l'entreprise
Sep 30 2024n/an/a

US$1b

Jun 30 2024n/an/a

US$976m

Mar 31 2024n/an/a

US$892m

Dec 31 2023US$11mUS$1m

US$786m

Sep 30 2023n/an/a

US$536m

Jun 30 2023n/an/a

US$582m

Mar 31 2023n/an/a

US$681m

Dec 31 2022US$5mUS$641k

US$881m

Sep 30 2022n/an/a

US$898m

Jun 30 2022n/an/a

US$904m

Mar 31 2022n/an/a

US$818m

Dec 31 2021US$140kn/a

US$707m

Sep 30 2021n/an/a

US$709m

Jun 30 2021n/an/a

US$685m

Mar 31 2021n/an/a

US$675m

Dec 31 2020US$140kn/a

US$581m

Sep 30 2020n/an/a

US$605m

Jun 30 2020n/an/a

US$668m

Mar 31 2020n/an/a

US$690m

Dec 31 2019US$70kn/a

US$667m

Sep 30 2019n/an/a

US$596m

Jun 30 2019n/an/a

US$571m

Mar 31 2019n/an/a

US$568m

Dec 31 2018US$140kn/a

US$587m

Rémunération vs marché: La rémunération totale de Pedro Azagra ($USD 10.69M ) est dans la moyenne des entreprises de taille similaire sur le marché US ($USD 14.74M ).

Rémunération et revenus: La rémunération de Pedro Azagra a augmenté de plus de 20 % au cours de l'année écoulée.

PDG

Pedro Azagra Blazquez (56 yo)

2.6yrs
Titularisation
US$10,689,792
Compensation

Mr. Pedro Azagra Blazquez served as Director of Corporate Development of Iberdrola, S. A. since 2008 until June 1, 2022. He served as the Chief Development Officer of Iberdrola from 2008 to May 2022. He se...

Équipe de direction

NomPositionTitularisationCompensationPropriété
Pedro Azagra Blazquez
CEO & Director2.6yrsUS$10.69m0.0079%
$ 1.1m
Justin Lagasse
CFO, Senior VP & Controller1.4yrsUS$1.11m0.00050%
$ 69.7k
R. Mahoney
Senior VP9yrsUS$3.14m0.0015%
$ 213.2k
Jose Miranda Soto
President & CEO of Avangrid Renewablesno dataUS$3.23m0.0018%
$ 243.9k
Nelly Jefferson
Chief Information Officerless than a yearpas de donnéespas de données
Charlotte Ancel
Vice President of Investor Relationsno datapas de donnéespas de données
German Avecilla
VP & Chief Compliance Officer1.2yrspas de donnéespas de données
Kimberly Harriman
Senior Vice President of Public & Regulatory Affairs2.5yrspas de donnéespas de données
John O'Neil
Senior VP & Head of People and Organizationless than a yearpas de donnéespas de données
Ignacio Estella
Senior Vice President of DEIless than a yearpas de donnéespas de données
Nacho Arronte
VP & Chief Risk Officer2.8yrspas de donnéespas de données
Alfredo Canto
Senior VP & Chief of Staff1.7yrspas de donnéespas de données
1.5yrs
Durée moyenne de l'emploi
53yo
Âge moyen

Gestion expérimentée: L'équipe de direction de AGR n'est pas considérée comme expérimentée (ancienneté moyenne 1.5 ans), ce qui suggère une nouvelle équipe.

Membres du conseil d'administration

NomPositionTitularisationCompensationPropriété
Pedro Azagra Blazquez
CEO & Director5yrsUS$10.69m0.0079%
$ 1.1m
David Flanagan
Executive Chairman of CMP4.8yrspas de donnéespas de données
Teresa Ellen Herbert
Independent Director5.5yrsUS$200.00k0.00026%
$ 36.2k
John Lahey
Independent Non-Executive Director9yrsUS$240.00k0.0057%
$ 794.4k
Alan Solomont
Independent Non-Executive Director10.9yrsUS$240.00k0.0029%
$ 397.2k
Jose Sanchez Galan
Non-Executive & Non-Independent Chairman of the Board10.9yrsUS$240.00k0.028%
$ 3.8m
Jose Armada
Director10.9yrsUS$200.00kpas de données
Santiago Martinez Garrido
Director9.8yrsUS$200.00kpas de données
Daniel Lopez
Director4.8yrsUS$170.00k0.00069%
$ 96.2k
John Baldacci
Independent Vice Chairman of the Board10.9yrsUS$240.00k0.000090%
$ 12.5k
Robert Duffy
Independent Director5.5yrsUS$240.00kpas de données
Maria Banez Garcia
Independent Director2.4yrsUS$240.00kpas de données
7.3yrs
Durée moyenne de l'emploi
67yo
Âge moyen

Conseil d'administration expérimenté: Les membres du conseil d'administration de AGR sont considérés comme expérimentés (ancienneté moyenne 7.3 ans).

Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2024/12/23 17:39
Cours de l'action en fin de journée2024/12/20 00:00
Les revenus2024/09/30
Revenus annuels2023/12/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github; nous proposons également des guides expliquant comment utiliser nos rapports et des tutoriels sur Youtube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

Avangrid, Inc. est couverte par 11 analystes. 5 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Eric BeaumontBarclays
Paul ZimbardoBofA Global Research
Gregory GordonEvercore ISI